Gold Bear Activity

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Potential double-bottom pattern on Daily chart

Downtrend on 4 Hour

1.618 fib aligns perfectly with the last leg of downtrend

Also USDCHF which correlates highly with Dollar Index flew 180 pips breaking the resistance level on Daily and Weekly.

I am expecting Dollar to do the same looking at Weekly chart which broke out of downtrend, retested.
This is my personal bias on Gold since it correlates with DXY in opposite directions.

ความคิดเห็น:

Hit right on spot!